DoJ declines to reopen investigation into former Fed chair Jay Powell

Kevin Warsh's predecessor had been investigated over cost overruns related to central bank renovation project

The US justice department is not reopening a criminal investigation into former Federal Reserve chair Jerome Powell for cost overruns related to the central bank's building renovation project, a department spokesperson said on Friday.

Attorney general Todd Blanche - in comments to Bloomberg News, which first reported the development - said he has not ruled out continuing to look into the project's oversight and potentially take action if evidence of wrongdoing came to light.